The articles appear to be mistaken about the timing requirements under Exon-Florio. The statute calls for a mandatory investigation to begin within 30 days of notification and requires that the investigation cannot take more than 45 days. Such an investigation is mandatory: "in any instance in which an entity controlled by or acting on behalf of a foreign government seeks to engage in any merger, acquisition, or takeover which could result in control of a person engaged in interstate commerce in the United States that could affect the national security of the United States."
However, there’s also this provision:
(g) Report to the Congress
The President shall immediately transmit to the Secretary of the Senate and the Clerk of the House of Representatives a written report of the President’s determination of whether or not to take action under subsection (d), including a detailed explanation of the findings made under subsection (e) and the factors considered under subsection (f). Such report shall be consistent with the requirements of subsection (c) of this Act.
It seems pretty clear to me that the conditions for a mandatory investigation are satisfied in this case. So the question becomes: Did Bush file a report or, if not, who in the Administration determined that no investigation was required under Exon-Florio in this case?
Should be interesting to watch BushCo. limbo around this one.
(graphic by Dark Black)